ISLAMABAD: The Federal Board of Revenue (FBR) has issued SRO 754 of 2014, notifying new rates of duty drawback on export of textile and allied products. The new rates are effective from August 21.
The FBR has issued another notification to allow new rates of duty drawback to exporters retrospectively from January 1 as well.
It is to be noted that the government announced a textile package in the budget 2014-15 with effect from July 1.
The new rates of duty drawback will be 1.86 percent of the FOB value on export of 100 percent cotton or blended polyester/cotton/ trevira (all blends) dyed THPC fire or flame retardant woven fabric; 1.26 percent of the FOB value on 100 percent cotton dyed THPC fire or flame retardant (Provatex ACS special) woven garments and 1.35 percent of the FOB value on blended cotton/ polyester/ trevira (all blends) dyed THPC fire or flame retardant (Provatex ACS special) woven garments.
According to the notification, rate of duty drawback will be 3.96 percent of the FOB value on 100 percent cotton or blended polyester/ cotton (all blends) luminous dyed HIVIS fire or flame retardant (Provatex CP) woven fabric; 3.06 percent of the FOB value on 100 percent cotton luminous dyed HIVIS fire or flame retardant (Provatex CP) woven garments.
The rate of duty drawback will be 3.13 percent of the FOB value on export of polyester/cotton blended (all blends) luminous dyed HIVIS fire or flame retardant (Provatex CP) woven garments; 1.06 percent of the FOB value on 100 percent cotton bleached or white or blended polyester/ cotton (all blends) polyurethane finished woven fabric; 2.11 percent of the FOB value on 100pc cotton and blended cotton/ polyester (all blends) dyed polyurethane finished woven fabric and 1.80pc of the FOB value on 100 percent cotton and blended cotton/ polyester (all blends) dyed soil release finished woven fabric.
Through another notification, SRO 755 of 2014, the FBR has allowed repayment of customs duties in respect of goods exported between the period commencing from the Jan 7, 2013, and ending on Aug 21, 2014.
The rate of duty drawback will be 1.86 percent of the FOB value on export of 100 percent cotton or blended polyester/ cotton/trevira (all blends) dyed THPC fire or flame retardant woven fabric; 1.26 percent of the FOB value on 100 percent cotton dyed THPC fire or flame retardant (Provatex ACS special) woven garments; 1.35pc of the FOB value on blended cotton/ polyester/trevira (all blends) dyed THPC fire or flame retardant (Provatex ACS special) woven garments.
